University of Michigan moving ahead for use of Pfizer site

The University of Michigan could open its first offices at the former Pfizer pharmaceuticals site this fall, and open its first laboratory there in 2010.

U-M officials announced new details of the $108 million deal for the property at the monthly meeting of the U-M Board of Regents, held in Dearborn Thursday.

U-M Chief Financial Officer Timothy Slottow said the "due diligence" period will end on Monday. During that period the university investigated all aspects of the 177-acre property and 30 connected laboratory and office buildings.

U-M expects to close on the acquisition June 16.

The property will allow U-M to expand its research and hire up to 3,000 people over the next 10 years.

Consultants hired by the university briefed the regents and gave the property a clean bill of health, with the exception of one of the parcels acquired by Pfizer in 2002 and located to the northeast near Plymouth and Green roads. It contains minor chemical contamination from several decades ago.

Pfizer had initiated a voluntary cleanup after it purchased the property as part of an expansion plan. Some soil was removed and a building was demolished, but Pfizer never operated on the parcel, Hank Baier, U-M's associate vice president for facilities and operations, said after the meeting.

"What we found was what we expected," he said.

U-M and Pfizer are discussing the property with the Michigan Department of Environmental Quality, he said.

Among the many other aspects investigated by U-M was the energy efficiency of the buildings. A thermal imaging camera was used to highlight where improvements could be made.

Reporter Dave Gershman can be reached at 734-994-6818 or dgershman@annarbornews.com.